Canada-based
mining company Altius Minerals Corporation (Altius) has announced its financial results for the quarter and the nine months ended January 31, 2013.
In the given quarter, Altius posted a net loss of C$3.62 million compared to a net profit of C$2.46 million for the same period one year earlier. Altius' sales revenue decreased to C$1.36 million, down 76.5 percent compared to the corresponding period of the previous financial year.
In the first nine months, Altius registered a net loss of C$9.37 million, compared to a net loss of C$2 million in the corresponding period of the previous year. The increase in net loss from the prior nine-month period resulted primarily from the higher share of loss in associates and other investment adjustments. The company's sales revenues in the first nine months of the current financial year amounted to C$4.28 million, decreasing by 55.4 percent year on year.